By Devika Patel
Knoxville, Tenn., March 11 - Triangle Petroleum Corp. announced a $9.2 million private placement of stock.
The company will sell common shares at $0.33 apiece.
Settlement is expected March 12.
Proceeds will be used to finance development obligations, acquire and develop additional acreage in the Bakken Shale play and for general corporate purposes.
Calgary, Alta.-based Triangle Petroleum is an oil and gas exploration company.
| Issuer: | Triangle Petroleum Corp.
|
| Issue: | Common stock
|
| Amount: | $9.2 million
|
| Price: | $0.33
|
| Warrants: | No
|
| Pricing date: | March 11
|
| Settlement date: | March 12
|
| Stock symbol: | OTCBB: TPLM
|
| Stock price: | $0.42 at close March 11
|
| Market capitalization: | $29.4 million
|
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